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Epic Pennant on BTC Chart


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16 minutes ago, Baka said:

@Eric123is that price drop also linked to the new tax laws?

It's actually a rumor of the President's proposal for increased taxes, but yeah I think that's the accepted narrative of why the price declined yesterday.  But honestly moves like this for bitcoin are really the norm so it may have moved similarly even without the  news.

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18 minutes ago, Eric123 said:

It's actually a rumor of the President's proposal for increased taxes, but yeah I think that's the accepted narrative of why the price declined yesterday.  But honestly moves like this for bitcoin are really the norm so it may have moved similarly even without the  news.

There was sales on spot market between mid and medium imvestors, nothing to see really, weekend is going to be fun, either it will start gradual upward move.

RSIs are saying that market is oversold and overstretche.

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57 minutes ago, Eric123 said:

Bitcoin is still caught in the down trend.

@xrp-nukeYeah you're right RSI hasn't been this low since Sept 2, 2020. zoomed out chart

Trend lines for support and resistance.  Looking to break near resistance line this weekend. zoomed in chart

4 24 2021.png

4 24 2021a.png

any thoughts on the XRP chart? You think the approx $2 were the high and that's what you'll base your x10 on from? Or see more upside first, before major consolidation? (after all it has just been one "down-week", so far, nothing too long for now)

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3 hours ago, Nat99 said:

any thoughts on the XRP chart? You think the approx $2 were the high and that's what you'll base your x10 on from? Or see more upside first, before major consolidation? (after all it has just been one "down-week", so far, nothing too long for now)

The answer was given already, but looking how are things are going now, than yes 1.96 was the top.

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23 minutes ago, xrp-nuke said:

The answer was given already, but looking how are things are going now, than yes 1.96 was the top.

thanks. However, there is a reason I made the reference to the fact that it has been just one "down-week" so far. See below.

image.thumb.png.690129f709f6fa9977237660ba7100e7.png

 

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On 4/23/2021 at 11:04 AM, Eric123 said:

It's actually a rumor of the President's proposal for increased taxes, but yeah I think that's the accepted narrative of why the price declined yesterday.  But honestly moves like this for bitcoin are really the norm so it may have moved similarly even without the  news.

Do we even have a legitimate BIDEN administration, or just a body double appearing in somewhere else other than the WHITE HOUSE?

Edited by MQB
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10 hours ago, Eric123 said:

Bitcoin is still caught in the down trend.

@xrp-nukeYeah you're right RSI hasn't been this low since Sept 2, 2020. zoomed out chart

Do you think we will see a rebound before going all the way down to 45 or 38k again? It seems like it has been all red for a week already, the RSI is so low that it looks a short rebound will come.

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10 hours ago, jockeyng said:

Do you think we will see a rebound before going all the way down to 45 or 38k again? It seems like it has been all red for a week already, the RSI is so low that it looks a short rebound will come.

short rebound yes maybe to 54k , but to me we need to go down even further to low 40's

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Bitcoin may break out of the short term down trend it has been in since the 14th.  

13 hours ago, jockeyng said:

Do you think we will see a rebound before going all the way down to 45 or 38k again?

I don't see it going to $38k or $45k.  I think there are too many people with deep pockets behind Bitcoin now.  I think when it rebounds it rebounds strong.  This was just another shake out event to get rid of the new FOMO buyers - there will be more of them.  

4 24 2021.png

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1 hour ago, Eric123 said:

Bitcoin may break out of the short term down trend it has been in since the 14th.  

I don't see it going to $38k or $45k.  I think there are too many people with deep pockets behind Bitcoin now.  I think when it rebounds it rebounds strong.  This was just another shake out event to get rid of the new FOMO buyers - there will be more of them.  

4 24 2021.png

Totally agree. I don’t use analysis or understand charts anywhere near what most of you do but market sentiment of late and the amount of investment from private company’s, the $50k mark will be a low point they won’t allow to drop below for long. All these companies only invest to make money, and they know manipulation is possible so I’m sure they’ll all be banding together to keep the price rising soon enough 👍

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